According to the Calgary Real Estate Board CREB®, Residential real estate sales in the city of Calgary ended the year on a high note, with sales volume up 15 per cent in 2012 compared to 2011, and benchmark prices up five per cent.
Total sales were 1,230 units, a significant increase over the 1,068 units last year. But sales remain well below January levels recorded through the peak years of 2003 – 2008.
“While activity is typically slower in the winter months, recent improvements in single family new listings helped support improved sales in that market,” said CREB® President Becky Walters. “Overall indicators put the market in balanced
Single family sales totaled 879 units in January, a 15 per cent increase over January 2012 levels. New listings remained just above levels recorded at the same time in 2012, for a total of 1,737. The slight improvement in listings helped support sales
growth, although inventory levels remain down by doubledigits. “Inventory levels have improved relative to December, as is the seasonal trend,” said Walters.
The lower level of inventories can pose a challenge for buyers, as they will have to make their buying decision quicker than buyers have done over the past four years.
Apartment and townhouse condominiums recorded respective sales of 204 and 147 units in January 2013. Although sales increased, the number of new listings declined.